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Search Results 0 to 7 of about 8 (some duplicates have been removed)
going up. when did the greece act? when their bond market blew up. what was clinton's great line about reuben? you mean the f-ing bond market is in control? remember that? the politicians have no incentive but the market is a fickle and violent thing and one day, it goes like that. zpl. >> the clock is ticking closer. the cuts are set to go into effect friday, march 1st. joining me now, two co-chairs of the campaign to fix the debt founded by alan simpson, judd gregg from new hampshire and ed rendell, the former chair of the democratic party. thanks for joining us. so, what do you think? assuming the affects kick in, what is the immediate impact? ed rendell. >> well, in the very short-term, it will be limited impact, but as the days ghooes on, you'll s people let off of the federal government. you're going to see defense workers let off of their jobs. you're going to see the federal bureaucracy if not grind to a halt be limited in its ability to protect us and keep things moving. it's going to be a real difficult time and it's happening at the worst time when the economy took a hit the
right now. roger is with me, former deputy we treasury secretary under bill clinton and chairman of ever corp. partners. and from a vice chairman of the federal reserve he is also the author of "after the music stopped, the financial crisis, the response and the work ahead." gentlemen, it's good to have you on the program. >> good to be here. >> so much to discuss. allen, this week we have the unemployment report in the month of january, in line with expectations. unemployment rate ticking up to 7.9% and the disappointing gdp report. what does that tell you? >> i think if you -- what you need to do is average through the third quarter, which was higher than it should have been. and the fourth quarter, which is lower than it should have been. why do i say that? we have this big mysterious bounce up in defense spending. government spending in general, seems mysterious in the third quarter. then it disappears in the 40 quarter. if you average those two, ditto with inventory. acouple lakes and decumulation. if you average those two, it looks like it's been looking like a sort of a 2% minus g
Search Results 0 to 7 of about 8 (some duplicates have been removed)